Mason Company projects the folowing sales for the first three months of the year: $11,200 in January, $14,600 in February, and 513,400 if March. The company expects 705 or the sabs to bo cast and remainder on account Sales on accocint are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a 20 ero balance on January 1 . Round to ise near dollar. Rad the cequitempists emply Do not enter a zero) Accounts Recetrable balance, March 31: Match-Cieat sales collection of March salos in Aprel Requirements 1. Prepare a schedule of cash receipts for Mason for.January, February, and March. What is the balance in Accounts Receivable on March 31? 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31